Hire Purchase Loan

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Hire Purchase Loan

Our hire purchase loan has been especially designed with attractive features, simple documentation process, flexibility and speedy delivery to suit our customers’ needs. Under this scheme, we offer loans for purchase of new/used vehicles or for commercial vehicle financing.

 

Purpose:

Financing available for all Kind of new and Recondition vehicles.

Salient Features

  • Financing up to 50% of distress value for Private Vehicles.
  • Financing up to 70% of distress value for Public Vehicles.
  • Loan tenure of maximum 7 years.
  • Rate of interest 13.00% to 16.00%
  • Processing fees of Upto 1.25%.

    • Required Documents

  • Loan Application
  • Citizenship of borrower
  • Family details of borrower
  • Bluebook of vehicle
  • Driving License
  • Monthly income source with supporting documents
  • Vehicle Invoice (Quotation / Valuation report)
  • In case of business Vehicle (Route permit)
  • Other documents based on requirement